Managing Director’s Review
For Fennia Asset Management, 2017 was the sixth full year of operations. The company experienced some significant changes during the year. Fennia’s investment department and part of Fennia’s financial administration were made part of Fennia Asset Management in the context of the Fennia Group’s organisational change in April. This more than doubled the size of the company’s organisation. At the same time, both Fennia and Fennia Life became Fennia Asset Management’s customers, and thus the amount of assets managed by the company grew several-fold. The company’s management and administration also changed. On 18 April 2017, the Financial Supervisory Authority granted Fennia Asset Management authorisation to act as a manager of alternative investment funds. Fennia Asset Management also moved with the rest of the Fennia Group to new premises in the Pasilanportti business centre in April.
I, as the new Managing Director, together with the new Board of Directors and Executive Group as well as the very motivated personnel, started to develop Fennia Asset Management based on our earlier plans. It is easy to take the company forward as it has been managed so well. We have my predecessor and his organisation to thank for this.
Fennia Asset Management pursues growth. Our growth is driven by real estate business. Therefore, we launched a new product, Fennica Building Plot Fund, non-UCITS, in September to complement our range of real estate investment funds, which already included Fennica Properties I.
For investors, 2017 was better than average. We are pleased to note that the returns achieved by our clients were good and stood up well to comparison in the case of portfolios under discretionary management, model portfolios and Fennica Properties I alike. In addition, Fennica Building Plot Fund took off well at the end of the year.
I am grateful as I feel that we have received and also earned our clients’ trust as an asset manager. Long-term saving and investing secure our welfare as individual citizens but also support general economic growth. Thus, Fennia Asset Management has been extremely successful in its implementation of the Group’s mission – For business and life.
Warm thanks go to our personnel and the Fennia Group’s support for the successful launch of the chosen operating model in our operations.
A new era awaits us!